Russell Investments Group Ltd. decreased its stake in Northeast Bank (NASDAQ:NBN – Get Rating) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,558 shares of the financial services provider’s stock after selling 7,928 shares during the period. Russell Investments Group Ltd. owned 1.07% of Northeast Bank worth $3,053,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Kennedy Capital Management Inc. raised its position in Northeast Bank by 5.9% in the fourth quarter. Kennedy Capital Management Inc. now owns 20,105 shares of the financial services provider’s stock worth $718,000 after acquiring an additional 1,126 shares during the period. 683 Capital Management LLC bought a new stake in shares of Northeast Bank in the fourth quarter valued at approximately $442,000. Qube Research & Technologies Ltd bought a new stake in shares of Northeast Bank in the fourth quarter valued at approximately $279,000. Acadian Asset Management LLC raised its position in shares of Northeast Bank by 54.7% in the fourth quarter. Acadian Asset Management LLC now owns 41,530 shares of the financial services provider’s stock valued at $1,483,000 after purchasing an additional 14,686 shares during the period. Finally, Globeflex Capital L P bought a new stake in shares of Northeast Bank in the fourth quarter valued at approximately $972,000. Institutional investors own 50.04% of the company’s stock.
Northeast Bank Trading Up 1.8 %
Northeast Bank stock opened at $42.31 on Friday. The firm’s 50 day simple moving average is $38.17 and its 200 day simple moving average is $36.87. The firm has a market capitalization of $352.87 million, a PE ratio of 7.94 and a beta of 1.30. Northeast Bank has a 1-year low of $30.09 and a 1-year high of $42.77.
Northeast Bank (NASDAQ:NBN – Get Rating) last posted its earnings results on Monday, July 25th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.20. The firm had revenue of $27.76 million for the quarter, compared to the consensus estimate of $25.86 million. During the same period last year, the company posted $2.54 EPS.
Northeast Bank Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 23rd. Investors of record on Tuesday, August 9th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Monday, August 8th. Northeast Bank’s dividend payout ratio (DPR) is presently 0.75%.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of Northeast Bank from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd.
About Northeast Bank
Northeast Bank provides banking services to individual and corporate customers in Maine. The company’s deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.
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